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Nov 28, 2012
11/12
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in other words, a mandate to raise taxes hutton. tonight we want to take that mandate and put it into some context and perspective. this is the president's 2012 victory. but 50 -- and this is the mandate. forty-seven. the electoral votes, 3302. mesa more room here. romney's 206. that'simpressive. but there's something missing. seven and a half people. seven and a half million voters from 2008. he received and, and all right this over here, 53 percent of the vote to mccain's 46%. a little more impressive. 365 electoral votes to 1703. wait a minute. that's quite a little difference . of falloff in the popular vote and a ar less impressive electoral victory this year. let's look at the legislative branch, th senate, the house. fifty-five for democratic senators. forty-five will be republican. 200 democratic representatives to 234 in the house of representatives. he is down here. pretty impressive for the republicans. by the way, when you combine the senate and house there are still a lot more republicans than capitol hill then there ar
in other words, a mandate to raise taxes hutton. tonight we want to take that mandate and put it into some context and perspective. this is the president's 2012 victory. but 50 -- and this is the mandate. forty-seven. the electoral votes, 3302. mesa more room here. romney's 206. that'simpressive. but there's something missing. seven and a half people. seven and a half million voters from 2008. he received and, and all right this over here, 53 percent of the vote to mccain's 46%. a little more...
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Nov 27, 2012
11/12
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but going to the tax pledge, it is a little bit complicated. he makes the point that no republican has voted for a tax increase and congress and something like 20 years. that is true, except for we are going to get tax increase on january 1st congress does nothing. pursuant to push tax cuts in 2001 and 2003 which many republicans voted for. the law in 2010. lou: worrying about the niceties and the details. we're looking at a fiscal clef. but some senators running around. sitting there trying to, you know, it seems to me, rollover for the president. >> perhaps. if they don't roll over, if they stand firm and there is no agreement taxes go up anyway. lou: with that we come back. we'll be right back. lou: we're back with the a-team, the fiscal cliff, grover norquist. will the president step up and deal with the issue of entitlement. >> i believe he will, he must, and he has, to but with regard to norquist. only thing we're desperate about a man about to lose his power is a man about to lose his relevant, i think that republicans, have started to s
but going to the tax pledge, it is a little bit complicated. he makes the point that no republican has voted for a tax increase and congress and something like 20 years. that is true, except for we are going to get tax increase on january 1st congress does nothing. pursuant to push tax cuts in 2001 and 2003 which many republicans voted for. the law in 2010. lou: worrying about the niceties and the details. we're looking at a fiscal clef. but some senators running around. sitting there trying...
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Nov 27, 2012
11/12
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FBC
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but going to the tax pledge, it is a little bit complicated. he makes the point that no republican has voted for a tax increase and congress and something like 20 years. that is true, except for we are going to get tax increase on january 1st congress does nothing. pursuant to push tax cuts in 2001 and 2003 which many reblicans voted for. the law in 2010. lou: worrying about the niceties and the details. we're looking at a fiscal clef. but some senators running around. sitting there trying to, you know, it seems to me, rollover for the president. >> perhaps. if they don't roll over, if they stand firm and there is no agreement taxes go up anywa lou: with that we come back. we'll be right back. with the fidelity stock screener, you can try strategies from independent experts and see wh criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason s
but going to the tax pledge, it is a little bit complicated. he makes the point that no republican has voted for a tax increase and congress and something like 20 years. that is true, except for we are going to get tax increase on january 1st congress does nothing. pursuant to push tax cuts in 2001 and 2003 which many reblicans voted for. the law in 2010. lou: worrying about the niceties and the details. we're looking at a fiscal clef. but some senators running around. sitting there trying to,...
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Nov 23, 2012
11/12
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that includes all taxes also. and we look at other cities like boston coast-to-coast or new york coast to coast, we are seeing those fares nonstop for $250 for the first of the year. you may need to be slightly flexible, but those are some of the best deals. even florida, i think, will be the gold mine. even for the los angeles area to four lauderdale are in the mid two hundreds. you are going coast to coast for sure. it is a nice place to be in the wintertime. orlando, tampa, fort lauderdale, those are the three that i would look at. after january 7, again. and then in europe. this is my best deal. i swear. i cannot believe it is this good. $516 in fuel surcharges. this gives you two continents. asia and europe all in the same trip. it is in -- in -- round trip all taxes included. new york and boston, $500. dagen: one quick thing, though, why are they offering the deals? are bookings falling off the cliff made january? >> there is a lot of us who have to travel during the holidays. there is a bunch of us on the r
that includes all taxes also. and we look at other cities like boston coast-to-coast or new york coast to coast, we are seeing those fares nonstop for $250 for the first of the year. you may need to be slightly flexible, but those are some of the best deals. even florida, i think, will be the gold mine. even for the los angeles area to four lauderdale are in the mid two hundreds. you are going coast to coast for sure. it is a nice place to be in the wintertime. orlando, tampa, fort lauderdale,...
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Nov 28, 2012
11/12
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we were hearing about federal gas tax, talking but obviously raising taxes on anyone who makes more than $250,000 but you don't hear anything serious about cutting spending or entitlement or anything. >> i think the white house thinks we are in a better place than they were a year and a half ago so they're staying away from the spending cuts for now. i think if there is no real spending cuts, they will go off the fiscal cliff, don't think republican!!therepublicans willl without spending. melissa: maybe we will raise taxes now on folks and make a promise down the road to get back together in six months or so or talk about spending cuts somewhere down the road. that would be frustrating to a lot of republicans, do you think they would take that deal? speak i understand the chances of winning the lottery are better than getting the cuts in the future. if they don't get an agreement right now that is firm and real. lori: had to get something specific, not just cut and number, and it turns out like this come in th and the situatih his exploding deadline and may be a number but no specifics i
we were hearing about federal gas tax, talking but obviously raising taxes on anyone who makes more than $250,000 but you don't hear anything serious about cutting spending or entitlement or anything. >> i think the white house thinks we are in a better place than they were a year and a half ago so they're staying away from the spending cuts for now. i think if there is no real spending cuts, they will go off the fiscal cliff, don't think republican!!therepublicans willl without spending....
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Nov 29, 2012
11/12
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far as tax reform, come up with more tax revenue. melissa: thank you so much for your input, peter barnes. lori: what is on the menu? got to give a shout out. there is another battle brewing over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging americans to tweet their support for using the hash tag mo farah, as in my $2000, raised taxes on somebody else. now my2k has become a way to trash obama and cheering at the democrats. they been acquired sponsorship rights for my2k, they often see paid messages opposing the obama tax hikes. they run the gamut. some talk about the sudden switch to now playing up keeping tax cuts for everyone else. others make fun of my2k origins. a few samples. obama irony, same people who claimed bush tax cuts are only for the rich now argue to keep them because they hel
far as tax reform, come up with more tax revenue. melissa: thank you so much for your input, peter barnes. lori: what is on the menu? got to give a shout out. there is another battle brewing over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging...
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Nov 29, 2012
11/12
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if we can bridge the fiscal cliff and get a comprehensive tax reform and entitlement reform, you would see a market significantly higher. tracy: we have had some earnings that look positively dismal. it is a very big pricey discretionary product, but they miss earnings, that is a real fundamental, isn't it? speak we still have the s&p profit growth that is positive. you cannot continue to have double-digit earnings growth as he diyou did for 10 consecutive quarters. if we get through this cliff in the back half of 13, gdp growth rate accelerates as we anticipate and profit growth as well. tracy: if your liking big multinationals, you don't like europe yet you like the multinationals. help me wrap my mind around that. >> u.s. large caps are cheap, most of those in mall to nationals. but they don't deserve to be cheap. it is going to be a while before you get any sustained growth. you can't make that case the multinationals. it is relatively speaking a small part. the big part of the global exposure is the emerging markets. tracy: you obviously are very bullish equity sky. you have to be
if we can bridge the fiscal cliff and get a comprehensive tax reform and entitlement reform, you would see a market significantly higher. tracy: we have had some earnings that look positively dismal. it is a very big pricey discretionary product, but they miss earnings, that is a real fundamental, isn't it? speak we still have the s&p profit growth that is positive. you cannot continue to have double-digit earnings growth as he diyou did for 10 consecutive quarters. if we get through this...
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Nov 27, 2012
11/12
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these tax cuts. if the tax cuts were so good then the economy should be driving. if you go back to the prior eight years during president clinton's administration. 23 million. 10 years and 7 trillion. the compromise we reach isn't perfect. and we're going to send legislation, the president today that will not only avert a default. he said enough, -- not enough. to assure congress that we will continue working. i will say it again. i appreciate my friend. they've worked in decades past. there's no write why they can't work out. we need to do something because the trigger that kicks in is very, very ditch difficult we need to do this. and it has to be one that's fair. it can be -- there bhust a sharing -- there must be a sharing of sacrifice. it's fair. no revenue is really too bad. we need to have a fair approach to this joint committee. i'm confidence we will do that. the trigger mechanism kicks in. this committee who was going to have the point -- the appointed. we've had two days as early as the senate saying me no revenue. otherwise, the trigger's going to kick
these tax cuts. if the tax cuts were so good then the economy should be driving. if you go back to the prior eight years during president clinton's administration. 23 million. 10 years and 7 trillion. the compromise we reach isn't perfect. and we're going to send legislation, the president today that will not only avert a default. he said enough, -- not enough. to assure congress that we will continue working. i will say it again. i appreciate my friend. they've worked in decades past. there's...
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six taxes eighteen taxes three hundred twelve all these different numbers. how do you respond to those well here's the thing i mean i think i mean obviously after the whole campaign what's really really clear is that there was two candidates one of whom campaign to rebuild the middle class and one of whom did it one of whom believed in the middle class and the other of whom talked about a slacker class and so the middle class one and when it comes to all of the debate about this law has been totally political i've never met an uninsured person who says i don't like this law it's too complicated right i just doesn't have it right and so you know and small businesses that are struggling with health care costs that actually provide health care for their employees are excited about this so you know i'm of running care and we need to keep our eye on the prize right now implementing this law thirty five million people get health insurance medicare medicaid get stronger we improve care we get better outcomes that's what this is about and and the politicize it right
six taxes eighteen taxes three hundred twelve all these different numbers. how do you respond to those well here's the thing i mean i think i mean obviously after the whole campaign what's really really clear is that there was two candidates one of whom campaign to rebuild the middle class and one of whom did it one of whom believed in the middle class and the other of whom talked about a slacker class and so the middle class one and when it comes to all of the debate about this law has been...
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Nov 21, 2012
11/12
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carbon tax. consumption tax. other ideas outside the box that you think should be part of the conversation. >> i think both a consumption tax and carbon tax have desirable features. it is just the air not likely to happen or the next 36 months. to start with a carbon tax in particular, unless you're going to completely denied the probability that we will face increasing risk from carbon emissions, pressing carbon strikes me as a step to get the behavioral change and the technological innovation we will need to adjust and adapt to what we have already done. a carbon tax also raises re
carbon tax. consumption tax. other ideas outside the box that you think should be part of the conversation. >> i think both a consumption tax and carbon tax have desirable features. it is just the air not likely to happen or the next 36 months. to start with a carbon tax in particular, unless you're going to completely denied the probability that we will face increasing risk from carbon emissions, pressing carbon strikes me as a step to get the behavioral change and the technological...
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Nov 25, 2012
11/12
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second, what is the appropriate maximum tax rate on in society. number three how would you narrative the differentials between the worker and the ceo. it was 30 times now today it is 500 times. it is incurred to some degree because china has brought down wages of the american factory workers i think ceo is the issue of governance. if you could give your opinions. >> the 1% cause the 99% status? >> the difficulties of the 99% are a result of a whole host of different things we have talked about. right now the major problem is unemployment, education unemployment, education, a host of financial sector deregulation and lolling predatory lending. you can say a lot is a result to support not by the 1% by the way the influence of money of the political process. it is a result of that. not all of it. but the issue of ceo pay relative to the ordinary workers, a lot of that has to do with corporate governance. if we had stronger was i think that would be curbed. >> is a different ratio here then another country. >> and safeguard just as efficient. >> also
second, what is the appropriate maximum tax rate on in society. number three how would you narrative the differentials between the worker and the ceo. it was 30 times now today it is 500 times. it is incurred to some degree because china has brought down wages of the american factory workers i think ceo is the issue of governance. if you could give your opinions. >> the 1% cause the 99% status? >> the difficulties of the 99% are a result of a whole host of different things we have...
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to rome carbon taxes cap and trade. manhattan project for alternative energies in the minute or so we have left your thoughts but i think we need to put a price on pollution make polluters pay i mean right now doesn't cost anything to just spew as much carbon pollution to the atmosphere as possible they don't pay the cost of the extra mile and i think you know ideally we should look does this country need more revenues is there some sort of debt problem around there so you know we could set up a carbon tax you could either give the money back to the people that you were you know or you could use it to reduce the deficit so i think we are going to need a price on pollution and then a big program to put to push more clean energy into the marketplace right dr stout that's been done by other countries european countries for for decades actually have effectively put a carbon tax particularly on gasoline and diesel fuel hasn't worked. on. well certainly their use of automobiles is not as you know they're not as for line and a
to rome carbon taxes cap and trade. manhattan project for alternative energies in the minute or so we have left your thoughts but i think we need to put a price on pollution make polluters pay i mean right now doesn't cost anything to just spew as much carbon pollution to the atmosphere as possible they don't pay the cost of the extra mile and i think you know ideally we should look does this country need more revenues is there some sort of debt problem around there so you know we could set up...
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Nov 27, 2012
11/12
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tax hikes, tax hikes, and tax hikes. one way or another, that's about all i hear on this fiscal cliff business, and you know what? what about spending cuts which is the true source of the deficit problem along with anemic economic growth. and here's one. we just got confirmation that the latest fiscal numbers from the treasury department show the federal government ran up more red ink in october than it did the year before, and guess what? spending went up double digits from the year before. what a surprise. but the white house got one thing right today. it released a study showing that a massive year-end tax hike would kill consumer spending by $200 billion, right. so let's not raise taxes. and in addition to all of this, the joint chiefs of staff is apparently drawing up plans to keep 10,000 u.s. troops in afghanistan past the 2014 deadline. this break a president obama promise, but some promises are made to be broken, and i think this is probably a good move. but first up congress back at work tonight after the holida
tax hikes, tax hikes, and tax hikes. one way or another, that's about all i hear on this fiscal cliff business, and you know what? what about spending cuts which is the true source of the deficit problem along with anemic economic growth. and here's one. we just got confirmation that the latest fiscal numbers from the treasury department show the federal government ran up more red ink in october than it did the year before, and guess what? spending went up double digits from the year before....
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Nov 29, 2012
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additional tax increases equal to $600 billion. 2009 level estate tax. multiyear stimulus package starting with at least $50 billion next year alone. permanent increase in the debt ceiling, the debt limit enough to avoid it. in exchange, $400 billion in savings from the medicare and other entitlements to be worked out next year with no guarantees. that didn't go over well. syndicated columnnist charles krauthammer. what is going on here? >> you know, up until today i didn't think -- i did think that the president had shown leg on entitlement reform. he did no 2011. when the house speaker failed to reach a grand bargain. you heard signals from dick durbin said on the sunday shows that medicare had to be on the table. he circled back and say it couldn't be part of the down payment. a lot of confidence that the president is willing to go over the cliff before he would do anything to entitlement. this is the -- the ball is in the democrats' court, not in the republicans that i spoke to today. did say that the administration proposal just as boehner said is n
additional tax increases equal to $600 billion. 2009 level estate tax. multiyear stimulus package starting with at least $50 billion next year alone. permanent increase in the debt ceiling, the debt limit enough to avoid it. in exchange, $400 billion in savings from the medicare and other entitlements to be worked out next year with no guarantees. that didn't go over well. syndicated columnnist charles krauthammer. what is going on here? >> you know, up until today i didn't think -- i did...
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Nov 27, 2012
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they want bigger taxes, bigger government. for example, take a look. >> if despite the dangers of going over the fiscal cliff and what that means for our economy, that there's too much stubbornness in congress, that we can't even agree on giving middle-class families a tax cut, then middle-class families are all going to end up having a big tax hike. that's going to be a pretty rude shock for them, and i suspect will have a big impact on the holiday shopping season, which in turn will have an impact on business planning and hiring, and we can go back into a recession. >> sean: republicans hate big beared and santa claus. don't buy this hype, such as letting the bush cuts expire, are not the answer to tackling this deficit. in fact, during the 2012 fiscal year the federal government cost $9.7 billion to run each and every day, but the additional revenue from letting the bush tax cuts expire only amounts to around $82 billion a year, meaning the government would be funded for a whopping 8.5 days if in fact the president wins thi
they want bigger taxes, bigger government. for example, take a look. >> if despite the dangers of going over the fiscal cliff and what that means for our economy, that there's too much stubbornness in congress, that we can't even agree on giving middle-class families a tax cut, then middle-class families are all going to end up having a big tax hike. that's going to be a pretty rude shock for them, and i suspect will have a big impact on the holiday shopping season, which in turn will...
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cuts expire everybody's taxes will go up including taxes on the rich and the very rich which means that of democrats propose cutting taxes on the working class people while ignoring the new red. for the rich republicans can sign on and vote for the legislation without violating their blood oath the multi-millionaire k. street lobbyists grover norquist all that goes nowhere as fast as it should which would be to roll back the reagan tax cuts it's a start on moving america in a more egalitarian direction second most of the cuts to the pentagon budget are good things pentagon has lost over two trillion dollars and they can account for it's a good guess you'll find a lot of it twenty bedroom mansion zone by defense contractors and lobbyist they're wearing this city washington d.c. and this nation needs a healthy and robust debate on our role as an empire as president obama said during the campaign it's time to do some nation building right here at home and third by breaking out the social spending cuts that require public in particular the house of representatives to go on record on their p
cuts expire everybody's taxes will go up including taxes on the rich and the very rich which means that of democrats propose cutting taxes on the working class people while ignoring the new red. for the rich republicans can sign on and vote for the legislation without violating their blood oath the multi-millionaire k. street lobbyists grover norquist all that goes nowhere as fast as it should which would be to roll back the reagan tax cuts it's a start on moving america in a more egalitarian...
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Nov 28, 2012
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letting the wealthiest tax cuts, the tax cuts go back to the clinton era, will provide the revenue so that those cuts don't to be deep and hurt so badly. >> senator patty murray, the fight we have a long way to go, even though the calendar year ends on december 31st, thank you so much for your time. >> coming up, ambassador susan rice returns to the hill to meet with the new set of republican lawmakers. but are these meetings congressional inquiry or job interview? we will take a look just ahead. my doctor told me calcium is efficiently absorbed in small continuous amounts. citracal slow release continuously releases calcium plus d with efficient absorption in one daily dose. citracal slow release. >>> after a trio of skeptical republican senators voiced their troubles with u.n. ambassador susan rice's answers yesterday another top gop lawmaker senator susan collins went there today. >> what troubles me so much is the benghazi attack in many ways echos the attacks on those embassies in 1998 when susan rice was head of the african region for our state department. >> we discuss the late
letting the wealthiest tax cuts, the tax cuts go back to the clinton era, will provide the revenue so that those cuts don't to be deep and hurt so badly. >> senator patty murray, the fight we have a long way to go, even though the calendar year ends on december 31st, thank you so much for your time. >> coming up, ambassador susan rice returns to the hill to meet with the new set of republican lawmakers. but are these meetings congressional inquiry or job interview? we will take a...
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Nov 26, 2012
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rates or effective tax rates. there's ways of doing that. >> reporter: with the clock ticking and markets getting nervous, talks begin again this week amid tentative steps toward common ground. >> we can't go off the fiscal cliff. we have to show the world we're adults. the election is over. >> nbc's mike viqueira reporting. >>> overseas to egypt where the country's newly elected leader has granted himself unchecked power sparking days of clashes and sending the country's stock market into a freefall. our reporter is in cairo with the very latest. ayman, good morning. >> reporter: good morning. egypt's stock market opened for a second straight day, and it plunged already by 4%. now, that's already a day after it lost 10%, and officials there had to stop trading just to prevent it from declining any further. that's the economic turmoil this country finds itself in. there are tons of other political and social unrest unfolding across the egyptian capital, cairo. a short while from now, mourners are going to be prayi
rates or effective tax rates. there's ways of doing that. >> reporter: with the clock ticking and markets getting nervous, talks begin again this week amid tentative steps toward common ground. >> we can't go off the fiscal cliff. we have to show the world we're adults. the election is over. >> nbc's mike viqueira reporting. >>> overseas to egypt where the country's newly elected leader has granted himself unchecked power sparking days of clashes and sending the...
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Nov 27, 2012
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no tax cuts for -- no tax raises for spending cuts that will not materialize later. americans have seen that game before and there will not be fooled again. the only balanced approach is one that includes real and lasting reforms. republicans have stepped out of our comfort zone. we have been clear about what we will do and what we will not. yet we remain at an impasse. leading us to ask, why? because a vocal minority on the hard left continues to argue to leaders on their party from the president down the democrats in washington should do absolutely nothing about short-term or long-term spending problems. this is the thelma and louise crowd that wants to dream about high taxes and bigger government that it will pay for, regardless of the impact on jobs or the economy or america's standing in the world. these are the ones who have recklessly ignored the fact we cannot keep running trillion dollar deficits every year. somebody suggests that maybe the taxpayers should not keep subsidizing every last program. their reckless and idiotic approach threatens our very future
no tax cuts for -- no tax raises for spending cuts that will not materialize later. americans have seen that game before and there will not be fooled again. the only balanced approach is one that includes real and lasting reforms. republicans have stepped out of our comfort zone. we have been clear about what we will do and what we will not. yet we remain at an impasse. leading us to ask, why? because a vocal minority on the hard left continues to argue to leaders on their party from the...
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Nov 27, 2012
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or raise their tax rates? today president obama meets with small business leaders continuing his push for higher taxes for the wealthy. a new white house economic report warns if tax breaks go away, the average middle-class family will owe uncle sam another $2,200 next year. >> it seems to be the thing that we can all agree on, that middle-class families should see an extension of these tax cuts. >> reporter: some prominent republicans who have been dead set against raising taxes on anyone now hint they may consider other options. >> we've been open to revenue by closing loopholes as long as it's tied to spending cuts and pro-growth tax reform that brudens the base and lowers rates. >> you don't raise rates, you just cap the amount of itemized deductions that taxpayers -- it hits the wealthy. >> reporter: the bottom line, republicans say americans borrowing too much money trying to keep medicare and social security afloat. lawmakers with the fix-the-debt coalition meet here tomorrow. >> there's going to come a
or raise their tax rates? today president obama meets with small business leaders continuing his push for higher taxes for the wealthy. a new white house economic report warns if tax breaks go away, the average middle-class family will owe uncle sam another $2,200 next year. >> it seems to be the thing that we can all agree on, that middle-class families should see an extension of these tax cuts. >> reporter: some prominent republicans who have been dead set against raising taxes on...
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you know sharing information online in his case they believe that he used it when he was helping out tax transferred and distribute those files among members of all suck but because sexual predators can also use tor he's just as dangerous as them and so now he's going to be denied bail just last question and i mean bigger picture you know we sort of started off this statement talking about why this wasn't necessarily a great week for tech week yeah and not so much for type of but for people who use technology for example who have made it a part of their lives and for privacy rights i mean is there light at the end of the tunnel where we can hope like what really we've been seeing for the last couple of months there's so many efforts on a congressional level to try to pass cyber security legislation and we already know that congress is having a hell of a hard time on their part trying to do that so ideally we can we can rely on the court system to take these little discrepancies but it looks like we really can't right now but hopefully these cases are getting the media attention slowly bu
you know sharing information online in his case they believe that he used it when he was helping out tax transferred and distribute those files among members of all suck but because sexual predators can also use tor he's just as dangerous as them and so now he's going to be denied bail just last question and i mean bigger picture you know we sort of started off this statement talking about why this wasn't necessarily a great week for tech week yeah and not so much for type of but for people who...
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play santa clause themselves become the santa clause of tax cuts when a ski wrote the only thing wrong is the failure of the republican party to play santa clause to santa clause theory holds that republicans should concentrate on tax reduction in other words democrats can give gifts like social security and medicare although we pay for them and republicans can counter with gifts like massive tax cuts which is exactly what they did when ronald reagan was elected in one nine hundred eighty and picked as an advisor but there was another dimension to when his skis strategy that he doesn't explicitly lay out in that article and that's this if republicans by playing santa clause on their own successfully passed their tax cuts as reagan and bush two did without cutting spending then the government is starved of revenues we go into debt until eventually we can't afford the democratic party social services like social security unemployment insurance and medicare all the things that the republicans have called get us and if republicans scream and yell enough about the deficit they've created wi
play santa clause themselves become the santa clause of tax cuts when a ski wrote the only thing wrong is the failure of the republican party to play santa clause to santa clause theory holds that republicans should concentrate on tax reduction in other words democrats can give gifts like social security and medicare although we pay for them and republicans can counter with gifts like massive tax cuts which is exactly what they did when ronald reagan was elected in one nine hundred eighty and...
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of green bargain like simpson bowles that will leave the republican santa clause that delivered low tax rates nicked by paper cuts but leave the democratic santa clause a shot of a bloody mess recognizing what might be on the horizon progressive senator bernie sanders said this after the election. we're going to send a loud message. the leadership in my house in the senate and president of bad do not have children should you know you do not have a medicare do not problematic a. bad option of. having a back to me and i may have we may not matter in the bedroom i have a box of the elderly the sick the children they haven't. in other words don't shoot the democrat santa clause which we pay for by the way to reduce the deficit or bernie sanders of the progress is understand is that democrats haven't been playing santa claus for the last eighty years just to win elections they don't play santa claus to save the nation and our economic system as we know it face of the great depression and communist revolutions around the world roosevelt had to enact the new deal just to save capitalism itself
of green bargain like simpson bowles that will leave the republican santa clause that delivered low tax rates nicked by paper cuts but leave the democratic santa clause a shot of a bloody mess recognizing what might be on the horizon progressive senator bernie sanders said this after the election. we're going to send a loud message. the leadership in my house in the senate and president of bad do not have children should you know you do not have a medicare do not problematic a. bad option of....
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Nov 21, 2012
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and i think taxes. we had a fight where you had the president advocating to increase taxes on people who made more than $250,000 a year. >> looking ahead at the agenda, how big is climate energy? >> if you look at what to this country needs to do to create jobs, having a sound energy policy makes incredible sense. i think there are it a lot of voters who cared deeply about this. i think a lot of the youth of voters have said repeatedly this is an issue they want addressed moving forward. it needs to be addressed and, from an economic standpoint and for the future of the country. >> you think the president will do something dramatic? >> he has a plan to move forward. >> is the new democratic movement dead or no longer relevant? >> i think that our party has always been the big party and we have different views and that is healthy. that is exactly why i believe i am a democrat. i believe our vision of the country has a lot of people working across party lines and there are folks in our party who all want
and i think taxes. we had a fight where you had the president advocating to increase taxes on people who made more than $250,000 a year. >> looking ahead at the agenda, how big is climate energy? >> if you look at what to this country needs to do to create jobs, having a sound energy policy makes incredible sense. i think there are it a lot of voters who cared deeply about this. i think a lot of the youth of voters have said repeatedly this is an issue they want addressed moving...
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Nov 27, 2012
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next is the payroll tax. if you make, say, $50,000 a year, that's another $1,000 that you're going to fork over to uncle sam. then there is the alternative minimum tax, 27 million will be hit with this for the first time ever. and it's a separate calculation from the regular tax, the average cost, $3,700 a year. then there's the spending cuts, pre-cliff, if you're unemployed, you get 99 weeks of benefits, post cliff, 26 weeks. and home interest perks, bye-bye, those could all be gone. bernie sanders, good to have you with me today. and the president is making a full-court press meeting with business leaders today. and i just had senator johnson on earlier in the hour and says he's a small business owner, the president would have been wise to invite him to this meeting to talk to him about what he thinks about what could happen with the fiscal cliff, what do you think about the president's pr moves so far and what he's doing? >> well, i wouldn't call it a pr move. i think what the president is doing is saying
next is the payroll tax. if you make, say, $50,000 a year, that's another $1,000 that you're going to fork over to uncle sam. then there is the alternative minimum tax, 27 million will be hit with this for the first time ever. and it's a separate calculation from the regular tax, the average cost, $3,700 a year. then there's the spending cuts, pre-cliff, if you're unemployed, you get 99 weeks of benefits, post cliff, 26 weeks. and home interest perks, bye-bye, those could all be gone. bernie...
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Nov 21, 2012
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and i think taxes. we had a fight where you had the president advocating to increase taxes on people who made more than $250,000 a year. >> looking ahead at the agenda, how big is climate energy? >> if you look at what to this country needs to do to create jobs, having a sound energy policy makes incredible sense. i think there are it a lot of voters who cared deeply about this. i think a lot of the youth of voters have said repeatedly this is an issue they want addressed moving forward. it needs to be addressed and, from an economic standpoint and for the future of the country. >> you think the president will do something dramatic? >> he has a plan to move forward. >> is the new democratic movement dead or no longer relevant? >> i think that our party has always been the big party and we have different views and that is healthy. that is exactly why i believe i am a democrat. i believe our vision of the country has a lot of people working across party lines and there are folks in our party who all want
and i think taxes. we had a fight where you had the president advocating to increase taxes on people who made more than $250,000 a year. >> looking ahead at the agenda, how big is climate energy? >> if you look at what to this country needs to do to create jobs, having a sound energy policy makes incredible sense. i think there are it a lot of voters who cared deeply about this. i think a lot of the youth of voters have said repeatedly this is an issue they want addressed moving...
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Nov 26, 2012
11/12
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tax rates. there's ways of doing that. >> republicans always put revenue on the table. democrats always promise to cut spending. we never cut spending. what i'm looking for is more revenue for entitlement reform. >> and john boehner's called for a short term fix to overt the fiscal cliff so congress can work on on a bigger deal in 2013. but in an op-ed, republican senator bob corker says both sides need to carve out a $4 trillion package that includes both revenue hikes and spending cuts by the end of the year. >>> still to come, the miss crest shopping day of the year for online retailers. snapping up deals on big ike ket item. we'll get a look. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. >>> today is cyber monday. analysts say it's not as big a day as it's been in past. so many people sh
tax rates. there's ways of doing that. >> republicans always put revenue on the table. democrats always promise to cut spending. we never cut spending. what i'm looking for is more revenue for entitlement reform. >> and john boehner's called for a short term fix to overt the fiscal cliff so congress can work on on a bigger deal in 2013. but in an op-ed, republican senator bob corker says both sides need to carve out a $4 trillion package that includes both revenue hikes and spending...
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Nov 26, 2012
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not tax rates but revenue. here's two senators in interviews over the last two days. >> i agree we shouldn't raise rates but i think grover is wrong whether it comes to we can't cap deductions and buy down debt. what do you do with the money? i want to buy down debt and cut rates to create jobs but i will violate the pledge, long story short, for the good of the country, only if democrats will do entitlement reform. >> i'm not obligated on the pledge. i made tennesseens aware. i was just elected. i made aware the only thing i'm honoring is the oath i take when i'm sworn in this january. >> both of these senators are saying they aren't going to be browned by grover norquist from americans for tax reform. this is an issue bigger than norquist. the republican party has positioned itself as the smaller government, anti-tax party. but they've lost an election and it appears that republicans in the senate will see about the house, already to give some ground. >> john, thank you. that's good news. looks like at least
not tax rates but revenue. here's two senators in interviews over the last two days. >> i agree we shouldn't raise rates but i think grover is wrong whether it comes to we can't cap deductions and buy down debt. what do you do with the money? i want to buy down debt and cut rates to create jobs but i will violate the pledge, long story short, for the good of the country, only if democrats will do entitlement reform. >> i'm not obligated on the pledge. i made tennesseens aware. i was...
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Nov 27, 2012
11/12
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KGO
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some republican lawmakers say they're now willing to defy party politics and cut a deal on taxes. if congress doesn't act, $650 million of spending and tax increases will take place on january 1st. but there's fresh hope in washington that republicans and democrats can strike a deal. >> the world has changed. >> reporter: the biggest obstacle is a pledge of no tax increases of virtually any kind that every republican has signed. but with fiscal calamity on the horizon, some gop lawmakers have changed their tune. >> i will violate the pledge, long story short, for the good of the country. >> reporter: defying the pledge would buck 20 years of republican orthodoxy. this is the man behind the pledge. he's gotten thousands of republicans to sign the pledge, in exchange for help getting elected. the lawmakers open to breaking the pledge say they will do so by closing loophole, not raising taxes, putting them at odds with president obama, who was re-elected by pledging to let tax cuts expire for the wealthiest americans. >> the president has made clear that he will not sign a bill that
some republican lawmakers say they're now willing to defy party politics and cut a deal on taxes. if congress doesn't act, $650 million of spending and tax increases will take place on january 1st. but there's fresh hope in washington that republicans and democrats can strike a deal. >> the world has changed. >> reporter: the biggest obstacle is a pledge of no tax increases of virtually any kind that every republican has signed. but with fiscal calamity on the horizon, some gop...
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Nov 23, 2012
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incentive but the tax incentive is not why most people do it. it impacts how much people are able to give. >> republicans argue against increases in tax rates for fear it will discourage job creation by hitting small business owners who file as individuals. they prepare a limit on deductions perhaps a cap total deductiones by any one tax paper. in addition to rate increases, president obama last his own plan on deductions to limit them to 28%. >> so, in other words, if you were in the 35 or the 33% tax bracket. you could only deduct 28% of the cost of say, charitable contributions. >> charities don't care what form it takes, they are so worried about any tax plans targeting the wealthy, representatives of dozens of charities will converge on washington on december 5th to urge lawmakers to spare charities whatever they decide to do. gregg? >> gregg: jim angle in washington. thanks. some holiday shopper also be able to get same day delivery on the post office. they will launch that in san francisco cost 10 bucks. you have to order online by 3:00 p
incentive but the tax incentive is not why most people do it. it impacts how much people are able to give. >> republicans argue against increases in tax rates for fear it will discourage job creation by hitting small business owners who file as individuals. they prepare a limit on deductions perhaps a cap total deductiones by any one tax paper. in addition to rate increases, president obama last his own plan on deductions to limit them to 28%. >> so, in other words, if you were in...
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Nov 23, 2012
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raising tax rates. i think raising tax rates a bit will be okay for the overall marketplace and stock marketplace. but if you raise tax rates too much, i think we can have severe problems with the private sector not want to go hire because they are insure about what their tax bill is going to be at the end of 2013. without any clarity they will back off hiring. rick: the fed chair says make a deal here and the economy looks to be in good shape. so this is the concerns. if no deal is struck we know what happens. we jump off the cliff. if a deal is struck, something everybody can feel relatively good about even though everybody will feel pain, what could that mean for the overall economy? >> i think if there is a reasonable deal struck for the overall economy. then we also -- you have got to keep in mind we have a credit rating in this country that has been hurt and if a deal is not met, then our credit rating could be hurt as well. so i think if a deal is met we have -- i think it will be temporary in na
raising tax rates. i think raising tax rates a bit will be okay for the overall marketplace and stock marketplace. but if you raise tax rates too much, i think we can have severe problems with the private sector not want to go hire because they are insure about what their tax bill is going to be at the end of 2013. without any clarity they will back off hiring. rick: the fed chair says make a deal here and the economy looks to be in good shape. so this is the concerns. if no deal is struck we...
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Nov 27, 2012
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norquist is offering a reminder to republicans in congress who are thinking about breaking their anti-tax pledge in order to reach a deal. >> we could ask president bush, george herbert walker bush, how his second term went after he broke his pledge. did he damage the pledge, or did by breaking his pledge, he lost a second term for the presidency because he had not kept his word with the american people? >> at some point they need to let him go. >>> new york governor andrew cuomo is making his case for federal aid in the aftermath of hurricane sandy. governor cuomo said the storm could cost the state nearly $42 billion, and new yorkers would need federal help footing the bill. while acknowledging that more people died during hurricane katrina in 2005, the governor said that sandy's damage was actually more widespread. >> when you look at the number of homes and businesses affected, this storm affected many, many more people in places than katrina. and arguably, therefore, this created more housing and economic damage than katrina. >>> new jersey which suffered massive damage to its transi
norquist is offering a reminder to republicans in congress who are thinking about breaking their anti-tax pledge in order to reach a deal. >> we could ask president bush, george herbert walker bush, how his second term went after he broke his pledge. did he damage the pledge, or did by breaking his pledge, he lost a second term for the presidency because he had not kept his word with the american people? >> at some point they need to let him go. >>> new york governor andrew...
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Nov 28, 2012
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tax reform. people who are following us on twitter, just tweeted, we'll take your questions. we want to thank the bank of america for supporting these series. the forum is about issues that matter most in washington. last week, how the obama campaign won and today we will talk about very important issue for conservatives and republicans, the path forward for them and their party. we appreciate bank of america's partnership including at both of the conventions. and we are going to bring you into the conversation. you got cards. we would love to take your questions and also be getting questions as they call it on "morning joe"," the twitter machine. we would love to bring out grover norquist, president of americans for tax reform. good morning, grover. [applause] >> you don't have your bag. he is attached to his bag. >> they told me it was too streamlined up here for the bag. >> thank you very much for coming out. can republicans raise taxes and not break your pledge? >> difficult. >> it's not know
tax reform. people who are following us on twitter, just tweeted, we'll take your questions. we want to thank the bank of america for supporting these series. the forum is about issues that matter most in washington. last week, how the obama campaign won and today we will talk about very important issue for conservatives and republicans, the path forward for them and their party. we appreciate bank of america's partnership including at both of the conventions. and we are going to bring you into...
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Nov 21, 2012
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the payroll tax trauma in february of this year. they handled that very well in the republicans in december of 2010 were full of fire by february 2011. $140 billion of stimulus was a very good sign of the president learned that it's not about a persuasive argument that will bring. they are not going to budge. it's about using the power of the president be. the question is, how to build a new set of skills and tools. in the next couple of months is a big time for him. >> david, both in your book and a recent op-ed piece from the u.s. the question, what really drives them? is that approximately right? i mean, that seems to be the theme of the book. what is driving this guy? it is still a bit of an open question. what do you think you are seeing now is his driving motivations quick >> well, i put about this last week in terms of the second term in the drive now is greatness and i think he has the opportunity for you. that doesn't mean he'll reach it. even as the second term creates unexpected problems and a lame duck atmosphere that ca
the payroll tax trauma in february of this year. they handled that very well in the republicans in december of 2010 were full of fire by february 2011. $140 billion of stimulus was a very good sign of the president learned that it's not about a persuasive argument that will bring. they are not going to budge. it's about using the power of the president be. the question is, how to build a new set of skills and tools. in the next couple of months is a big time for him. >> david, both in...
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Nov 24, 2012
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there is a tax called the estate tax. we call it the death tax. a lot of seniors are impacted by that. we are keeping an eye on that and we will be watching closely in the lame duck session. many things impacting seniors. clearly, high cost of energy, high taxes, medicare as we know it needs to be fixed. host: we are talking about the economy and older americans, particularly health care, with jim martin. if you would like to get involved, by all means give us a call. if you also want to get in touch with us with social media, twitter is @cspanwj. before we get to the first call , tell us exactly what is the 60 plus association. you for asking that. i started this 20 years ago. quite frankly, i have been in this town almost 50 years coming here as a newspaper reporter when john f. kennedy was in the white house. little did i know that most seniors in the 50 states, the older we get, the little more moderate we get. i found out that the aarp comes from a fairly liberal viewpoint. i started 60 plus association as a counter. we have about 7 million s
there is a tax called the estate tax. we call it the death tax. a lot of seniors are impacted by that. we are keeping an eye on that and we will be watching closely in the lame duck session. many things impacting seniors. clearly, high cost of energy, high taxes, medicare as we know it needs to be fixed. host: we are talking about the economy and older americans, particularly health care, with jim martin. if you would like to get involved, by all means give us a call. if you also want to get in...
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Nov 28, 2012
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go up, dividend tax rates, personal tax rates, corporate tax rates go up, that that itself will cause economic weakness. what do you say to that? how are we supposed to balance the risks of doing things to avoid the fiscal cliff that may also hurt growth? >> one way or the other, there is a problem. if you kick the fiscal cliff down the road, then, you know, you're talking about the u.s. running deficits close to 4% to 5% over the next decade and that's cbo forecasts. if that occurs, you're talk about the debt getting more and more out of control. because the u.s. is the global reserve council, it's reliant on global reserve investment. >> just want to make sure that people have enough treasuries to trade. that's all it's about, charles. isn't that very generous? >> it is very generous. but left unaddressed, the fiscal problem is beginning to be a problem. but equally they don't want the full hit at this stage. so it is a matter of coming to some compromise, so you are going to have to see some kind of adjustment on the taxation side. that is what everyone is hopeful for. but it's sti
go up, dividend tax rates, personal tax rates, corporate tax rates go up, that that itself will cause economic weakness. what do you say to that? how are we supposed to balance the risks of doing things to avoid the fiscal cliff that may also hurt growth? >> one way or the other, there is a problem. if you kick the fiscal cliff down the road, then, you know, you're talking about the u.s. running deficits close to 4% to 5% over the next decade and that's cbo forecasts. if that occurs,...
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done anything wrong at all that or end up being with these high prices which are sort of a regressive tax actually if you think about it. so that's one thing that i would say the other thing i would say is that approximately sixty percent of the people in jails around the country are unconvicted so they haven't they haven't been to trial they have been convicted of anything and they're still being forced to pay these high rates so you know i would respond to people by saying that it's mostly the families of people in prison that pay their rates and their knees and there's even a good portion of people in jails that have nothing convicted of an interest and want to ask i don't know if this is a way to get around over what about collect calls on people with family members and presents a generally receive collect calls is that a different system is that a way to circumvent these higher rates know the high rates apply to both the collect call and the prepaid calls most calls made from prisons in jail or collect and the rates are the highest for the collect call them the other way that prisone
done anything wrong at all that or end up being with these high prices which are sort of a regressive tax actually if you think about it. so that's one thing that i would say the other thing i would say is that approximately sixty percent of the people in jails around the country are unconvicted so they haven't they haven't been to trial they have been convicted of anything and they're still being forced to pay these high rates so you know i would respond to people by saying that it's mostly...
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Nov 26, 2012
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revenue, taxes, i can say taxes, they can't say that on the other side of the aisle, revenue, taxes. that would account for 40% in simpson-bowles, 40%. what we're talking about is to make sure any deficit reduction package forward has a substantial portion of revenue and taxes in it but you can't tax the wealthiest people in america and balance the budget. i know that's true. there has to be spending cuts. also changes in entitlement programs. i happen to agree with the majority leader, social security does not add a penny to the deficit, not one penny, it is a separate trust fund, but it only has about 22 years of life left in it. that's pretty good by washington standards but we can do better. i think and many of us agree, bipartisan basis, let's make some small changes in social security today to guarantee it will be here for 50 years or even 75 years. we can do that. but that's a separate debate. the debate on the fiscal cliff is about entitlement programs. and i watched some of my friends on the left, on the democratic side saying don't touch the entitlement programs. they're ig
revenue, taxes, i can say taxes, they can't say that on the other side of the aisle, revenue, taxes. that would account for 40% in simpson-bowles, 40%. what we're talking about is to make sure any deficit reduction package forward has a substantial portion of revenue and taxes in it but you can't tax the wealthiest people in america and balance the budget. i know that's true. there has to be spending cuts. also changes in entitlement programs. i happen to agree with the majority leader, social...
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Nov 21, 2012
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just talk about taxes. the objective of holding the line or lowering taxes is ultimately supposed to contain or reduce the size of the government. do you feel closer or further from that goal today? >> much closer. one is the tea party and the other is the right and budget. up until the tea party, i would have been here and told you obama is going to spend too much money and you can't get the american people upset about spending too much. you have to wait until it becomes a tax increase that's why the protection pledge was i think the best defense against the government. the same misreading of his mandate that he's doing now so when some of us suggested the misreading of the mandate he did it for years ago. he threw away the approval rating to spend the stimulus package written on all this other stuff, massive debt and spending and you had a million people go to the streets around august, april 15th. he had only just showed up and started spending crazily. tarp ii me and you then have a reaction from the mo
just talk about taxes. the objective of holding the line or lowering taxes is ultimately supposed to contain or reduce the size of the government. do you feel closer or further from that goal today? >> much closer. one is the tea party and the other is the right and budget. up until the tea party, i would have been here and told you obama is going to spend too much money and you can't get the american people upset about spending too much. you have to wait until it becomes a tax increase...
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Nov 21, 2012
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trigger a recession next year and congress must act by january 1st in order to avoid that automatic tax increase and spending cuts. >>> time is 6:15. a new stumbling block for hillary clinton's chances to reach a middle east cease fire. a bus explosion in tel aviv. alison burns is live in our washington, d.c. newsroom. alison. >> reporter: dave, we received a statement from the white house within the past hour calling the attack on innocent civilians outrageous. israelis say it was a terrorist attack the bus bombing in tel aviv hurt at least 18 people. three seriously. hamas praised the attack but did not claim responsibility. secretary of state hillary clinton who is in egypt at this hour also issued a statement saying the u.s. strongly condemns the attack and ready to provide any assistance that israel requires. secretary clinton is is calling for a truth and longer term agreement. >> the goal must be a durable outcome that promotes regional -- >> reporter: prior to the bus bombing there were high hopes for a cease fire after seven days of violence but now the attack is clearly a set
trigger a recession next year and congress must act by january 1st in order to avoid that automatic tax increase and spending cuts. >>> time is 6:15. a new stumbling block for hillary clinton's chances to reach a middle east cease fire. a bus explosion in tel aviv. alison burns is live in our washington, d.c. newsroom. alison. >> reporter: dave, we received a statement from the white house within the past hour calling the attack on innocent civilians outrageous. israelis say it...
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Nov 27, 2012
11/12
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we raised payroll taxes, and we indirectly taxed social security benefits. we bought more than 50 years of solvency. today, untouched, it will make every promised payment for 22 years. you cannot say that about much in washington, but social security can. it has not added one penny to the deficit. for those who say there is a good reason to push it off the table and we brought another day, i would add a note of caution. small changes made today in social security will play out over the long run it to buy solvency for a long time. i think we should take social security off the table for the current fiscal cliff but be very honest about what we're going to achieve in the near term. i think we should create the equivalent of the simpson- bowles commission for social security and give them eight months to a year to come up with a planned to buy us 75 years of solvency for social security. then bring it to the floor for a vote and allow any bipartisan group who can come up with a credible plan that meets the same goal to offer their own to be voted on in the sena
we raised payroll taxes, and we indirectly taxed social security benefits. we bought more than 50 years of solvency. today, untouched, it will make every promised payment for 22 years. you cannot say that about much in washington, but social security can. it has not added one penny to the deficit. for those who say there is a good reason to push it off the table and we brought another day, i would add a note of caution. small changes made today in social security will play out over the long run...
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Nov 25, 2012
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by the end of the year, so we will see. >> tax hikes and steep spending cuts will take place next year. >> 8:41 first, this live look outside at san francisco still very foggy. there are some bridge advisory for the dunbarton, and a possible airport delay. at least 40-50 minutes right now. >> 8:44 taking a look at this weather. there is fog all around the bay it is going to be colder. >> what a change from an yesterday? >> id is really foggy the approach to the bay bridge. bay-area wide. for this afternoon we are expecting to see some clearing. and if widespread fog and clouds again there is a dense fog advisory for the north bay. it expires in the one along the delta does not expire until 10:00 a.m. so drive carefully as for the fog tracker 4 we can see how widespread it is. 10:00 a.m., portions of the south bay. and by this afternoon it will clear with a sunny afternoon but it will press by 5:00 p.m. along the san mateo coast and widespread. for the overnight hours. taking in a look at visibility still zero. dance in the north bay. 1 mi. through oakland, hayward and san francisco bec
by the end of the year, so we will see. >> tax hikes and steep spending cuts will take place next year. >> 8:41 first, this live look outside at san francisco still very foggy. there are some bridge advisory for the dunbarton, and a possible airport delay. at least 40-50 minutes right now. >> 8:44 taking a look at this weather. there is fog all around the bay it is going to be colder. >> what a change from an yesterday? >> id is really foggy the approach to the bay...
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Nov 28, 2012
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and not a taxing problem. we've got to make significant changes in these programs to make our federal entitlements sustainable and in line with the day's demographics. and we need democrats to join us in that effort. just to put a fine point on all that, madam president, i want to just mention what the, again, the nonpartisan congressional budget office's report which was issued on november 12 of this year, just a couple of weeks ago said -- and i quote -- "with the population aging and health care costs per person likely to keep growing faster than the economy, the united states cannot sustain the federal spending programs that are now in place." that's from the congressional budget office. the president's own fiscal commission, the simpson-bowles commission noted in its official report, and i quote again, "federal health care spending represents our single largest fiscal challenge over the long run." earlier this month "the washington post" in its editorial board said, and i quote again, "entitlement reform
and not a taxing problem. we've got to make significant changes in these programs to make our federal entitlements sustainable and in line with the day's demographics. and we need democrats to join us in that effort. just to put a fine point on all that, madam president, i want to just mention what the, again, the nonpartisan congressional budget office's report which was issued on november 12 of this year, just a couple of weeks ago said -- and i quote -- "with the population aging and...
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-class tax cuts and raise taxes for wealthy americans. alison burns is live in our washington, d.c. to see if we're any closer to seeing a deal to avoid the fiscal cliff. alison? >> reporter: it doesn't seem that way. president obama called congressional -- congressional leaders. but he's not met with them since before the thanksgiving break. we're now just 35 days away from the tax increases and spending cuts that kick in as part of the of the fiscal cliff. there's still no signs of a deal. the democrats are echoing the president's demand for tax increases for the wealthy. >> he's promises that will not sign any bill that benefits the 2% of the americans. >> no tax increases now for promised spending cuts that won't materialize later. >> reporter: and president obama is holding a series of events at the white house and on the road trying to win more public support this week for his approach. reporting live from washington, d.c., alison burns, ktvu channel 2 news. >>> 7:44. wall street seems to be teetering on that fiscal cliff as investors wait too react. pam cook -- wait to react.
-class tax cuts and raise taxes for wealthy americans. alison burns is live in our washington, d.c. to see if we're any closer to seeing a deal to avoid the fiscal cliff. alison? >> reporter: it doesn't seem that way. president obama called congressional -- congressional leaders. but he's not met with them since before the thanksgiving break. we're now just 35 days away from the tax increases and spending cuts that kick in as part of the of the fiscal cliff. there's still no signs of a...
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earners, then there's a question also of tax structure like the treatment of taxes for in some health care items and also on the mortgages. so there are a number of areas where this-of will there will have to be a negotiation, have to be give we're talking here about medium and long-term viability of the united states economy to not only avoid the fiscal cliff but get to the moment where the debt stops rising and the debt to gdp starts coming down into an area where we all can breathe more comfortably. >> secretary, we're going to leave it there. thank you for joining us this morning. >> thank you. >> coming up, we're going to kick off a rise above road trip. john harwood begins in ohio visiting the home state of house speaker john boehner asking constituents if their representative is representing them or not. the currents to rise above all day and i guess they mean their representative in congress and the representative in the white house asking both all day on "squawk box." tdd# 1-800-345-2550 you should've seen me today. tdd# 1-800-345-2550 when the spx crossed above its 50-day mo
earners, then there's a question also of tax structure like the treatment of taxes for in some health care items and also on the mortgages. so there are a number of areas where this-of will there will have to be a negotiation, have to be give we're talking here about medium and long-term viability of the united states economy to not only avoid the fiscal cliff but get to the moment where the debt stops rising and the debt to gdp starts coming down into an area where we all can breathe more...
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Nov 29, 2012
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are to preventing such a tax increase. for republicans, it has been about are they offered something that allows them to sell this? for republicans there are a couple of considerations. they don't want to get blamed if everybody's taxes go up. that could be politically problematic. but they can't afford to appear they're rolling over and getting anything they want. they have the house majority. they don't want the base of support to feel they didn't fight anything. because the campaign fund-raising dollars could dry up. everybody in the house faces a primary next year. whether or not they a tough opponent or not is on the table. there are so many considerations. jon: so if these talks fail, and we go over the fiscal cliff, do both sides share in the blame equally? >> i don't think so. i think it is likely that the house republicans and even senate republicans, even though they're in the minority in the senate are going to get more of the blame but it depend on what kind of view you're taking here if you're a republican. i
are to preventing such a tax increase. for republicans, it has been about are they offered something that allows them to sell this? for republicans there are a couple of considerations. they don't want to get blamed if everybody's taxes go up. that could be politically problematic. but they can't afford to appear they're rolling over and getting anything they want. they have the house majority. they don't want the base of support to feel they didn't fight anything. because the campaign...
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Nov 25, 2012
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thanksgiving break and get right to work on a budget agreement trying to avert the so-called fiscal cliff of tax hikes and big spending cuts slated to take effect at the start of the new year crippling the economy possibly. monday is known as cyber-monday by some consumers when holiday shoppers who didn't leave their thanksgiving dinner or brave the black friday crowds instead plan to do much of their holiday shopping online. now, a handful of economic reports this week may reflect the lingering impact of hurricane sandy. durable goods orders expected to rise last month but many factories in the east had to shut down and sales of new homes may have been hurt in the final week of the month. >>> automakers show off their new models this week. we'll see the new chevy spark. fiat's electric car and dozens of other vehicles. that's all at the los angeles auto show. i'm tyler mathisen. get your business news on cnbc. >> a reminder you can get business and tech news before the bell weekdays on "today in the bay" starting at 4:30 in the morning. much more ahead on "today in the bay." coming up, what you
thanksgiving break and get right to work on a budget agreement trying to avert the so-called fiscal cliff of tax hikes and big spending cuts slated to take effect at the start of the new year crippling the economy possibly. monday is known as cyber-monday by some consumers when holiday shoppers who didn't leave their thanksgiving dinner or brave the black friday crowds instead plan to do much of their holiday shopping online. now, a handful of economic reports this week may reflect the...
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little less than that after taxes. talking to some of those folks who are dreaming big this morning. >>> she sold 100 million records and not stopping there. dio nne warwick joins us as she celebrates 50 years in the business. "starting point" begins right now. >>> good morning. welcome, everybody "starting point" team, ron brownstein, roland martin, host of "washington watch with roland martin." why do i laugh every time you do that? >> i always do it. >> and every time i laugh. will cain is from theblaze.com. you have to come up with something else. >> i'm trying to hook you up. >> not that, please. christine romans joins us with your business. >>> susan rice returns to capitol hill this morning, little more face time with republicans. she's hoping, probably, for better outcome than she had yesterday. elise labbott joins us with details. >> ambassador rice is certainly getting a chance to sharpen her diplomatic skills. mccain, graham and ayotte yesterday said they left their meetings with ambassador rice more concern
little less than that after taxes. talking to some of those folks who are dreaming big this morning. >>> she sold 100 million records and not stopping there. dio nne warwick joins us as she celebrates 50 years in the business. "starting point" begins right now. >>> good morning. welcome, everybody "starting point" team, ron brownstein, roland martin, host of "washington watch with roland martin." why do i laugh every time you do that? >> i...